Phase 2 Drilling Underway at Cognac West After 8m at 2.87g/t Gold Intercept

Dynamic Metals Pushes Forward at Cognac West

Dynamic Metals Limited (ASX: DYM) has reignited exploration activity at its Cognac West gold prospect, part of the expansive Widgiemooltha Project in Western Australia. The company has commenced a second phase of reverse circulation (RC) drilling, targeting extensions of gold mineralisation uncovered during an initial campaign earlier this year.

Phase 1 drilling, completed in March 2025, delivered encouraging results including a standout intercept of 8 metres at 2.87 grams per tonne (g/t) gold, with a higher-grade subsection of 4 metres at 5.37 g/t from 60 metres depth. These findings have provided a solid foundation for the current program, which plans 19 new drill holes focused on priority targets within two key anomalies, designated Anomaly A and Anomaly B.

Building on Historical and Recent Data

The Cognac West prospect is geologically complex, situated near a late felsic intrusion and adjacent to the major Republican Thrust structure. Historical exploration dating back to the 1970s has been sporadic and limited, but notable past results include a remarkable 1 metre intercept grading 91.3 g/t gold from a 1990s drill hole. More recently, Dynamic Metals’ 2024 soil sampling and rock chip programs identified significant gold anomalies, with assays as high as 2,040 g/t gold in surface samples.

These data have been integrated into a refined geological model guiding the current drilling strategy. The Phase 2 campaign aims to test down-dip and strike extensions of mineralised zones, particularly focusing on quartz veins and structural features that may control gold deposition.

Targets and Expectations

Anomaly A drilling will follow up on a gold-bearing quartz vein mapped at surface, while Anomaly B targets a 220-metre-long north-south trend of anomalous gold in fresh volcaniclastics. Phase 1 results at Anomaly B included broad zones of low-grade gold mineralisation, interpreted as the edges of a potentially more significant system. The new holes will test these extensions and structural controls with different drill orientations.

Managing Director Karen Wellman expressed optimism about the program, highlighting the value of the initial results in refining the geological understanding and the potential to expand mineralised trends. The company anticipates assay results by early July 2025, which will be critical in determining the scope of further drilling and exploration activities.

Strategic Positioning in a Prospective Region

Dynamic Metals’ Widgiemooltha Project spans approximately 800 square kilometres in a region known for its rich gold and nickel endowment. The project’s proximity to established million-ounce gold camps and infrastructure enhances its strategic appeal. With a strong cash position and a focused exploration team, Dynamic Metals is well-positioned to advance its portfolio of precious and critical metals projects.

As the Phase 2 drilling unfolds, investors and analysts will be watching closely for assay results that could validate the company’s geological model and unlock further value in this promising gold prospect.